COMSovereign Holding Corp. (COMS) shares gained 1.37% in after-hours on Thursday, January 06, 2021, and closed the daily trading at $0.73. Even in the regular trading session, COMS’s stock went up 2.67%. COMS shares have fallen 88.35% over the last 12 months, and they have moved down 10.36% in the past week. Over the past three months, the stock has lost 50.61%, while over the past six months, it has declined 66.38%.
Let’s discuss its recent news and developments
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COMS cash dividend declaration
On January 6, 2022, the board of directors of COMSovereign Holding Corp. authorized and declared, a dividend on its 9.25% Series A Cumulative Redeemable Perpetual Preferred Stock for February 2022.
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The Series A dividend will be payable in cash of $0.1927 per share on February 20, 2022, to shareholders of record of the Series A Preferred Stock as of the dividend record date of January 31, 2022.
Earlier on December 21, 2021, COMS declared a cash dividend of $0.1927on its 9.25% Series A Cumulative Redeemable Perpetual Preferred Stock for January 2022.
For December the cash dividend was $0.1927 per share and it was paid on December 20, 2021.
COMS Lextrum technology update
The company introduced a new antenna system ASTARA™ (Adaptive Simultaneous Transmit and Receive Antenna), which is a standalone, electronically reconfigurable antenna technology specifically designed for self-interference cancellation applications. The new antenna will increase 100% simultaneous bandwidth for wireless networks.
COMS latest financial results
On November 15, 2021, COMSovereign Holding Corp. (COMS) reported financial results for the third quarter that ended September 30, 2021.
Q3 2021 financial highlights
- COMS reported total revenue of approximately $4.1 million for the third quarter of 2021 compared to approximately $2.0 million in Q3 2020.
- The cost of goods sold was $1.82 million in Q3 2021 compared to $0.86 million in Q3 2020.
- In Q3 2021, the gross profit was approximately $2.3 million compared to approximately $1.2 million for Q3 2020.
- Total operating expenses were $12.7 million in Q3 2021 compared to approximately $7.9 million for Q3 2020.
- It suffered a net loss of $10.7 million in Q3 2021 compared to a net loss of $10.33 million in Q3 2020.
- As of September 30, 2021, the company had approximately $2.9 million in cash and approximately $10.8 million invested in inventory, and $6.7 million in pre-paid expenses.
The recent cash dividend declaration for February 2022 was the reason behind its good performance on Thursday. it can continue to climb up in the coming trading sessions on Friday.